The present invention relates to scissors-type cutting tools commonly known as pinking scissors with interchangeable cutting blades. Ordinarily, cutting tools, such as scissors, come equipped with a pair of handles or hand grips and with a pair of blades or opposite cutting edges that work against one another about a common fulcrum. A cutting tool or pair of scissors may have permanently attached or removable blades. The cutting edges of scissors usually make a straight-line cut on a work material or fabric. In the case of pinking cutters or shears, which are actually scissors with saw-toothed cutting edges, they give the work material of fabric a zigzag line of scalloped edge (commonly known in the trade as a "pinked edge"), which keeps the thread of the material or fabric from ravelling. Prior to this invention, however, those scissors having interchangeable cutting blades provided only for replacement of a blade with one having the same cutting edge design (either "pinked edge" or straight line) as the blade being replaced. The purpose of this feature was to replace worn out blades.